, 1887-06-15
WHEAT WEAKENS.
The Great Chicago Combine"
Broken.
100000 Bushels Thrown
Into Market.
The Great Financiers Involved
in the Deal.
Wheat Takes a Drop.

CHICAGO, June H. Decentralization
and great financial disaster overlook the
great wheat clique. and the much vaunted
combine" is smashed. The wheat pit
was in a panic tor an hour. June option
dropped from 923 to 72f, the most sensa-
tional collapse seen in this market in its
history. The l6, 900, 900 bushels of grain
collected here and held by the mysterious
combination, of which nobody knows any
thing to a certainty, will now be sold out
under the hammer.
prominent of the clique of brokerage
houses, have announced their suspension.
The losses on the decline by this con
Germ will probably amount to $500, 900.
The collapse is worse than the failure of
Peter McGeogh, and will entail worse
losses. The first lntimation of trouble in
the wheat deal appeared the day before
Yesterday when July pes" at 82} cents was
broken thoroughly. That let July down
80 far that the marginal price for June,
which was kept at 92&, was inevitable.
doe Wiltshire, of Cincinnati, was
here Saturday, Sunday and yesterday.
Repeated interviews have been held be-
tween these two Cincinnatians and their
Chicago brokers. At one interview at
Richelieu last night Kershaw left appar.
emily so troubled in spirit that those who
saw his face felt that a panic was inevi
table. 1t is said that Leopold Bloom, a
scalper, who learned of the sensational
character of that interview, sold wheat
on the strength of it and made $6S, 900
on the decline this morning. There have
been few who claimed that this wheat
cuIner was the manipulation of the NAL
odcrous Harper, who repudiated his
losses made in 1881. Transactions, how
ever, became so enormous and the
undertaking so vast that at last the re
port that this deal was backed by the
Standard Oil crowd. by III. NJ. Flaggler,
and even had the backing of Rockefeller,
began to be believed. The claim that it
was really Harper, of the Fidelity bank,
OF Cincinnati, is now supposed to be the
true one.
Immediately after Secretary Stone had
announced the suspension of Rosenfeld &
Co. the office of this firo. as well as those
of other commission houses who are sup
posed to be acting for the clique. were
crowded with anxious brokers, all anxious
to know what the situation was and
whether other clique houses would be
forced to suspend also. Resented could
not be seen and his manager. Frank John.
son, said he could make no statement as
yet beyond the fact that they had sus-
pended.
Our suspension" said johnson, lis
due simply for the reason that our Cincin
natl clients have failed to keep al. their
verbal and written promises in regard to
putting up margins. We we're assured by
them last night that money would be
forthcoming this morning We have re.
ceived kilograms from Cincinnati an
nouncing that money for our margins
would be placed at our credit here, but up
to noon, however, nothing has been re
ceIved from them, and TO prevent more
serious losses we took the steps we did. "
The greatest excitement prevails among
board of trade houses.
2:30 P. Mt has just been announced
that the commission firms of Hamill &
Brene and 4. w. Berry have suspended.
An evening paper says that the 10000
900 bushels of grain collected here and
held by the mysterious combination will
nov be sold out under the hammer"
The losses of Rosenfeld & Co. on the de-
cline are estimated at $500. 900.
Kershaw & Co., who are recognized as
the leading clique brokers, sent in a COM
munication to Secretary Stone, of the
board of trade. that they would have
plenty of money by to morrow, and re-
questing all houses to keen their trade
with them.
Closing prices Wheat irregular; cash
TAI: july. 75t; August, 764. Corn easier;
cash, Sc; July, 81 I l6; August, 80. Oats
steady; cash, 24S; July, 253; August,
Al s.
CINCINNATI, June Al. w. Wiltshire,
who has been named as Gne of the Gin
cinnati clique connected with the Chicago
wheat deal, was asked to day what he had
TO say concerning the tumble, but he most
emphatically refused to say anything or to
admit that he knew anything more than
anybody else about the matter.
-MnwAUKEE. June l4.-The sudden
drop in wheat at all the great grain cen
tiers caused intense excitement on change
to day. Three failures we're announced.
viz: Frank Wilson, Joseph Wilde and
Hill, Fleitzheim x Co the latter being
the Milwaukee branch of @ j. Kershaw
& Co., OF Chicago. Hooker, Crittenden
& Co. closed out all their trades. Their
failure depends on the ability of the Ker
shaw crowd to meet all their obligations.
New York, June l4.-After tie first
hour there were much larger sales than
had been seen for several weeks. The
break in the wheat deal in Chicago this
morning, following the excitement in the
coffee market the last few days, caused a
great deal of excitement and apprehension
among the smaller class of operators, who
now hold most Of the floating stock and
their efforts to realize upon their holdings
rave the first impetus to the downward
movement, which assumed larger proper
tons later in the day. Room traders,
who at present are besrish almost to a
man. Joined in the selling movement and
80 created a decided break.
Toothache, headache and every other
ache are cured BY ST. Jacobs oil. Price,